Jill Stein, the presumptive Green Party candidate for President, said today that the Congressional deal on Puerto Rico was "good news for the hedge funds and other financial predators but bad news for Puerto Rico and their impoverished residents."
The legislation puts much of Puerto Rico's management in the hands of a seven-member oversight board and requires the island to pay $370 million over five years for the board's administration costs, even as it cuts funding for education, healthcare and pensions.
"The colonial status of Puerto Rico under US rule has allowed its residents to be exploited by the rich and powerful, depriving most residents of a decent quality of life. The poverty we have created there is crushing and overwhelming. We need to begin to treat Puerto Rico with respect, dignity and fairness and commit to promoting economic justice, security and self-determination rather than exploitation," said Stein.